British Mandate: A Survey of Palestine: Volume I - Page 377

CHAPTER IX.

171. The 758,000 dunums acquired by the J.N.F. represents 44% of the total area possessed by Jews. This land was acquired at a cost, including drainage and irrigation, of some £P.6 million. It is leased to settlers for a term of 49 years with the option of renewal for a similar period. The rent charged to the settlers by the J.N.F. for land is as under:

First 5 years - rent free, except for a nominal sum to meet legal requirements.

6-15 years - 1 % on assessed economic value of the land.

After 15 years - 2% on assessed economic value.

The J.N.F. has also paid commendable attention to afforestation, having planted 3,620,000 trees on its land at 47 places covering a total forest area of 15,700 dunums.

THE PALESTINE FOUNDATION FUND (Keren Hayesod).

172. The Keren Hayesod was established in 1920. It is the financial instrument of the Jewish Agency for the building of the Jewish national home. While the J .N .F. acquires the land the Keren Hayesod provides the finance by way of long term loans for the establishment and development of its agricultural settlements. The loans are utilised for the construction of farm buildings and accommodation and the purchase of livestock, machinery and equipment; they finance the settlers in the initial stages of establishment (1-3 years) until the farms produce revenue.

173. During 1920-1945 the Keren Hayesod invested some £P.5i million in agricultural settlement, of which about £P .3! million were for the following forms :-

Co-operative Communal

£P. 1,Bl 7,000 2,100,000

B,417,000

Total

The balance of £P.2 1/4 million was expended on such purposes as agricultural training, research and education, and on various projects such as irrigation and water companies and in loans to individual farmers for citriculture etc.

The loans issued by the Keren Hayesod for the establishment of settlements were granted on the following terms

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